Snapchat set to roll out its first consumer electronics product ‘’Spectacles’’

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Snapchat said it will launch a wearable device, called Spectacles, carrying a price tag of $129.99. The limited supply of the gadget will be sold this fall.

Spectacles, which looks a lot like a pair of sunglasses with a built-in camera, will be rolled out in three colors but with a standard size. Users can press a button near the hinge to shoot video of up to 10 seconds. Spectacles records video in a new circular format, which can be watched on full screen regardless of the smartphone’s position. The gadget transmits the shootings wirelessly to a smartphone.

The latest device marks the Venice, California-based company’s first step into consumer electronics. The startup behind the famous messaging app also said that it will change its name to Snap Inc., signalling its greater ambitions.

The company uploaded a promotional video for its new gadget on YouTube and is anticipated to showcase the device in New York in few days. Spectacles’ camera has a 115-degree-angle lens, which is bigger than a normal camera and resembles to the human eye’s field of view.

Snapchat, valued at roughly $18 billion by investors, most recently closed a $1.8 billion funding round earlier this year. Research firm eMarketer estimated that the company will hit $1 billion in global ad revenue in 2017, well above an expected $366.7 million sales this year. Comparatively, Facebook’s Instagram is anticipated to reach $1.5 billion in global ad revenue this year, and up to $2.8 billion next year.

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